SET Announcements

December 23, 2002 To: The President, Stock Exchange of Thailand Re: Preliminary Agreement regarding rental of space in The Maleenont Tower. The Company and its subsidiaries has recently entered into a Preliminary Agreement regarding rental of space in the 36-storeyed building and the 12-storeyed building that is being built in the Maleenont Tower Compound, with Maleenont Tower Co., Ltd., which is a connected person. Therefore, the Company reports this connected transaction as follows:- Transaction Date: December 23, 2002 Connected Parties: Tenants: The Company and its subsidiaries.[The Group] Landlord: Maleenont Tower Co., Ltd.[The Maleenont Tower] Relationship: The Maleenonts are managers and major shareholders, hold 100%, in Maleenont Tower Co., Ltd., and also are the managers and major shareholders who hold 56.56% in BEC World Plc. Description of the transaction: The Group expressed its interest to rent space in the 36-storeyed building and the 12-storeyed building that is being built in the Maleenont Tower Compound which is situated on Rama 4 Road, Klongtoey Bangkok,for about 14,000 square meters which is approximately the space that the Group is currently using in The Emporium Tower. The Group will enter into an agreement with the Maleenont Tower when the 12-storeyed building is ready to be occupied at the rate and term similar to the market rate and term revealing at the time. Size of the transaction: This connected transaction is a preliminary agreement; no rental agreement is yet made, thus the size cannot be quantified. Reason and the need to make the transaction: As the Emporium, the present site of the Group is fully occupied, thus it is a constraint on the Group's expansion plan. Furthermore, the rental agreement with City Realty Co., Ltd., is about to be expired on June 30, 2004. The Group sees the need for an alternate space that suit the operational requirements of the Group which are different from an ordinary space as The Group requires high ceiling space for studios in addition of Control Rooms, Broadcasting Rooms, which are also needed to be changed to accommodate new technologies. As the 12-stoeryed building is being built at an initial stage, thus it is easier and more economical to make this transaction so that the modification can be made to accommodate the need of the Group. It is expected that the 12-storeyed building will be ready to be occupied in 15 months. The Rental agreement will be made at that time Please be informed accordingly Sincerely Yours, (Chatchai Thiamtong) Vice President - Finance